Hi Ya Robbbbbbb, Seafood lunch sounds like CoCo's to me mate I'm in...it'll be good to catch up agin with you guys.. Late 09 check XJO weekly nearly the same candles so far 5 weeks now to 10 then.. The Trailing Stoploss is a indicator that you can customize on your charts when its hit sell..works on the Average True Range...and Timeframes.. That the simple bit...lol Here's the grunty stuff..below Cheers Pete..
The Trailing Stoploss This indicator is based on the average true range (ATR). It calculates the average range that the stock moves over the last 5 periods (one week) and then multiplies that value by a factor of 3. Finally it subtracts this value from todays closing price. So lets imagine a stock is trading at $1.00. It might have an average true range of 4c (or 4%). If we multiply that by 3 we get 12c. We then subtract this figure from the $1 close price and come up with a theoretical stop loss of 88c. The idea is that more volatile stocks need more leeway to prevent getting stopped out on normal price fluctuations. The indicator then tracks the stop price as it rises, but maintains its highest level (over the prior 20 periods) when the stock begins to fall. In effect; locking in profit each time the stock moves in our favour. Regardless of what your entry criteria may be..
